Possible gas rationing this summer

I don't want to be a "sky is falling" type of person, but Matthew R. Simmons is predicting that we will probably see gas lines and rationing this summer in the United States. Mr. Simmons is one of the world's most informed individuals in the petroleum industry. He doesn't cry wolf and has a reputation for knowing what he's talking about. See page 42 of his most recent presentation as a source of this concern.


Even scarier is his prediction that oil will be at $200 a barrel by 2010.

In other news, today Iran increased it's price of gasoline to it's citizens by 25%, the U.S. has most of it's naval power in the Persian Gulf and controls most of the Middle East.

Nothing to see here folks. Move along.

[edit on 23-5-2007 by dbates]

It looks like we have even more proof to the growing problem. Yesterday the House passed an anti-price gouging bill that would make price gouging at the gas pump a federal crime.

The House yesterday passed a bill that would make price gouging by gas stations and oil companies a federal crime as prices at the pump surpassed a 1981 record reached at the height of the Iranian oil crisis. The White House, which has threatened to veto the bill, warned the legislation amounts to price controls and would lead to gas shortages and lines like in the 1970s.
source

The still unknown variable in this whole equation is the upcoming hurricane season. Meteorologist are predicting this to be a very active season. If they are correct, this could push gas prices up towards $4 a gallon on average. If it does, look for stories of people drilling holes in gas tanks to steal gas. People are going to panic and it's going to hit the fan.


[edit on 24-5-2007 by dbates]